According to an announcement from Genworth Financial:
Effective Monday, August 27, 2012, the Genworth Financial companies (Genworth) will implement a rate increase for Colony Term UL 10 and 20 products. As a result of this change, planned premiums will increase an average of 5% for Colony Term Ul policies. We are taking this action in response to the sustained low interest rate environment, which continues to pressure our ability to provide affordable life insurance products.
Read the rest of this entry »
1-888-950-TERM(8376) – Call for life insurance quotes
Some companies have recently stopped selling 30 year term insurance such as Genworth and ING. See our top ten from May 9th and compare to today’s top ten.
Top ten 30 year term rates – $500k – Male Preferred Best Non-Smoker
|1. $2,805.00 per year with Banner Life Insurance Company
OPTerm 30 – 30 Year Term Preferred Plus Non-Smoker
|2. $2,825.44 per year with Genworth Life and Annuity Insurance Co
Colony Term UL 30 (200K+) Preferred Best No Nicotine Use
|3. $2,825.44 per year with Genworth Life Insurance Company
Colony Term UL 30 (200K+) Preferred Best No Nicotine Use
|4. $2,975.00 per year with Pruco Life Insurance Company
Term Essential 30 (<250K PruXpress ONLY) Preferred Best
|5. $3,050.05 per year with Transamerica Life Insurance Co
TransTerm UL 30 Preferred Plus Non-Smoker
|6. $3,125.00 per year with Principal National Life Insurance Co
30-Year Term Super Preferred non-tobacco
|7. $3,134.00 per year with American General Life Insurance Co
Select-a-Term – 30 Year Preferred Plus Non-Tobacco
|8. $3,138.96 per year with Protective Life Insurance Company
Secure-T – 30 Year No Lapse UL Super Preferred Non-Tobacco
|9. $3,248.00 per year with ReliaStar Life Insurance Co (ING)
TermSmart 30 – 30 Year Term Super Preferred Non-Tobacco
|10. $3,370.00 per year with Independent Order of Foresters
Foresters Lifefirst – 30 Year Preferred Plus Non-Tobacco
Tags: 30 year term, 30 Year Term Life Insurance Rates - 55 Male Preferred Best Non-Smoker $500k, 30 year term rates, 30 Year Term Rates - 55 Male Preferred Best Non-Smoker $500k, genworth, ING, life insurance quote, preferred best, stopped selling 30 year term, term, term life, term life insurance, term rates
Legal and General No Longer Considering a History of Cancer in the Family as a Factor Preventing Consideration for Their Preferred Classes
Aug 7, 2012 Life Insurance Updates
As of August 6, 2012, the Legal and General America companies (Banner and William Penn) will no longer consider family cancer histories as an adverse underwriting factor that would prevent applicants from consideration for their preferred classes unless there are features of the family history that suggest a hereditary cancer syndrome may be present.
According to Legal & General:
The development of cancer is a complex process involving the interaction of genetic and environmental factors. For a long time, we have been carefully studying the risk that a family history of cancer may convey to a person applying for life insurance. Our research clearly demonstrates that simply coming from a family that has one or more members with cancer does not necessarily increase the cancer risk or mortality risk among all members in that family. The risk to a proposed insured who has family members with cancer depends on the type of cancer, whether the proposed insured also has a past history of cancer, and the specific details fo the family history.
Legal & General America will continue to carefully examine and underwrite family histories. In a very small portion of cases, there may be features that raise concerns that the risk of cancer to family members may inherited. But, based on our research, we have concluded that unless the history is suggestive of a hereditary cancer syndrome, the mortality risk does not justify using family history of a cancer as a factor that would prevent consideration for our preferred classes.
Click for a life insurance quote or call us at 1-888-950-TERM (8376).
Tags: Banner, cancer, family history, family history of cancer, legal & general, Legal and General No Longer Considering a History of Cancer in the Family as a Factor Preventing Consideration for Their Preferred Classes, life insurance quote, preferred classes, William Penn
On June 25, 2012, the ING family of companies launched a new no-lapse universal life product — ING Universal Life-Guaranteed Death Benefit (ING UL-GDB). Where approved this product will replace ING Guaranteed Death Benefit Universal Life II (ING GDBULII). Premiums are generally higher than on GDBULII.
- · Level and abbreviated premiums for death benefit guarantee that can last up to a lifetime
- · New Select No Tobacco underwriting Class
- · Currently eligible for term conversions
- · Substandard table ratings assessed 20% extra mortality per table (vs. standard 25%)
The last day to receive FORMAL applications on the GBDULII product is 6/29/2012. The policy must be issued by 9/15/2012. We must have a completed application, including owner signature (trust, etc.) by the 6/29 deadline to get the old product.
If you need assistance with life insurance quotes please call us at 1-888-950-TERM.
Tags: death benefit guarantee, ING Guaranteed Death Benefit Universal Life II, ING Launches New Universal Life Product, ING Universal Life-Guaranteed Death Benefit (ING UL-GDB), Life Insurance Quotes, no-lapse universal life
May 4, 2012 Life Insurance Updates
Genworth announced today that they will be temporarily suspending sales of their Colony Term UL 30 year product. Beginning June 4th, 2012, applications for the Colony Term UL 30 will no longer be accepted.
Tags: 30 year term, Colony Term UL 30 Suspended, genworth, Genworth 30 year term, Genworth Colony Term UL, Genworth suspending term, Genworth term, Genworth's 30 Year Colony Term UL Being Suspended, term ul
Protective Life lowered term life insurance rates by as much as 20%. They also have a feature on their term life policy which allows you to select a monthly payout instead of a lump sum or a partial lump sum with the rest being paid out on a monthly basis. This further reduces the premium. For example, if you want to leave 1MM to your beneficiary, but you prefer that they receive 500k up front and then the rest in monthly payments, you can do so and it will cost less than if they received the full 1 million up front.
For a life insurance quote, please call us at 1-888-950-TERM.
Jul 30, 2011 Life Insurance Updates
PruTerm WorkLife 65 is a different kind of term policy. It offers guaranteed protection until the traditional retirement age of 65, no matter when you buy it.
In addition, at no extra cost, PruTerm WorkLife 65 will pay your premium for one year if you become unemployed. This can be a valuable benefit when you consider that nearly one in 10 American workers is unemployed today, according to the Bureau of Labor Statistics as of September 2010 News Release.
PruTerm WorkLife 65 will also pay for your premiums if you become disabled at any time up to age 65. Three of 10 Americans will become disabled before they retire, according to the Council for Disability Awareness website, “Chances of Disability,” as of November 2, 2010.
Your premiums are guaranteed and will not increase before age 65.
Conversion privileges are available up to age 65 without additional medical testing.
For additional information please call us at 1-888-950-TERM.
Tags: PruTerm WorkLife 65
On July 18 Prudential lowered prices on PruLife Universal Protector, Term Elite and Term Essential.
Prudential’s Universal Protector:
- UL Protector shows major improvements in competitiveness through age 65.
- Rates are improved through age 65 for their top three non-smoker underwriting categories.
- Single pay rates have been reduced for their top three non-smoker underwriting categories.
- Rate reductions also for Non-Smoker, Preferred Smoker and Smoker underwriting categories for full pay and No-Lapse Guarantee to age 100 payment scenarios.
- Maximum issue age has been reduced to 85.
Prudential’s Term Essential and Term Elite:
- Premiums at some ages and some underwriting categories have been reduced by up to 10%.
- 30-year Term Essential rates are also top quartile on a same age basis and they are the price leader or close to it across most issue ages and underwriting categories.
- Term Essential rates are often ranked #1 at key ages with the Age Last Birthday advantage:
- 10-year Term Essential for ages 60 and older.
- 15 and 20-year Term Essential for ages 50 and older.
- Prudential’s term products are eligible for conversion to any of their permanent products.
- They do not force you to convert to a less competitive conversion product like many other companies do.
Age Last Birthday Advantage:
- Most life insurance companies calculate your insurance age by your nearest birthday. So, if you are 65, but you are closer to your 66th birthday, they will calculate your rates as if you were already 66.
- Prudential uses your actual age to determine your life insurance rates.
If you would like a life insurance quote click here or call us at 1-888-950-TERM.